There are several different ways to sell your property, but essentially they can be grouped into two categories:
Marketing with a price or Marketing without a price?
- Auctions allow a competitive bidding to increase the final sale price.
- Absence of price reduces the risk of it being rejected on price
- Definite date to bring buyer interest to a commitment
- Catches interest in the early weeks of your home’s selling appeal
- Creates competition which leads to a premium price
- Most efficient Days of Market and highest success rate of all methods
- A private treaty sale is when a house is offered for sale at a negotiated price.
- The normal practice is for the vendor to set a price, and you negotiate with them until a mutually agreeable price is reached.
- Unlike auction, the potential buyers do not know what others may be offering for the property.
- There is no distinct final day for the sale of the property.
- Tender is essentially a private ‘auction’ for your home.
- The home is normally advertised for around 4 weeks.
- An asking price is not disclosed for the home however a price guide is often given to interested buyers.
- Potential buyers submit a bid for your home.
- Unlike a public auction, all tender bids are ‘sealed’ and the parties cannot see each others bid.
- The seller is able to choose the offer that best suits their circumstances or negotiate with a buyer using their bid as a starting point.